Factors Influencing the Growth of the Global Industry:
A number of factors such as technological advancements in the field of molecular imaging, increasing market demand for non-invasive small animal imaging techniques, and growing number of public-private initiatives and funding to support preclinical researches are propelling the growth of the global market.
However, factors such as strict regulatory framework that governs preclinical researches, and significant installation and operational costs associated with preclinical imaging modalities are some of the major factors restraining the growth of this market.
Key Market Opportunity:
# Emerging Markets to Offer New Growth Opportunities
Key Market Challenge:
# Technological and Procedural Limitations Associated With Standalone Small Animal Imaging Systems
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This report studies the small animal imaging market over the forecast period of 2016 to 2021. The market is projected to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016 to 2021.
Emerging markets (such as China and India) are offering high growth opportunities for market players operating in the small animal imaging industry. Continuous government support for pharmaceutical and biotechnology R&D, increasing public-private investments to support radioisotope production, rising number of translational research activities, and evolving regulatory scenario across major Asian countries are the key factors propelling the demand for small animal imaging procedures across emerging nations. In order to leverage the high growth opportunities in these emerging nations, leading market players are expanding their presence through partnerships with local market players and suppliers.
The key players in the small animal imaging market focus on various strategies such as new product launches; geographic expansions; partnerships, agreements, and collaborations; and acquisitions in order to increase their market shares in the global small animal imaging market. Product development and commercialization was the key strategy adopted by leading industry players to achieve optimal revenue growth in the small animal imaging market.
PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), Mediso Ltd. (Hungary), MILabs B.V. (Netherlands), MR Solutions Ltd. (U.K.), and Aspect Imaging Ltd. (Israel) were major players that adopted this strategy for their market growth during 2013-2016. Additionally, geographic expansion was the second most favored growth strategy among prominent product manufacturers; that helped OEMs to strengthen their market presence, enhance their R&D capabilities, and generate additional demand by sensitizing end users about benefits offered by molecular imaging during in-vivo preclinical imaging studies.
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Target Audience:
- Preclinical Imaging System Manufacturers, Suppliers, and Imaging Software Providers
- Pharmaceutical and Biotechnology Companies
- Preclinical Imaging Reagent Manufacturers and Suppliers
- Contract Research Organizations (CROs)
- Research and Development (R&D) Companies
- Government Research Laboratories
- Independent Research Laboratories
- Government and Independent Regulatory Authorities
- Market Research and Consulting Service Providers
- Medical Research Laboratories
- Academic Medical Institutes and Universities
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